In 2025, the number of applications for automobile trade-in subsidies exceeded 10 million

On October 23rd, it was learned from the Ministry of Commerce that as of October 22, the number of applications for car trade-in subsidies in 2025 exceeded 10 million, of which more than 3.40 million were scrapped and more than 6.60 million were replaced. The car trade-in policy effectively promotes green transformation. In 2025, new energy vehicles accounted for 57.2% of the trade-in of cars, driving the retail sales of new energy passenger vehicles from January to September to increase by 24.4% year-on-year, and the market penetration rate reached 52.1%. Among them, the market penetration rate reached 57.8% in September, achieving seven consecutive increases. At the same time, the level of resource recycling is also constantly improving. In the first three quarters of this year, the number of scrapped cars recycled 7.345 million, an increase of 47.9% year-on-year. According to the estimates of relevant institutions, the cumulative recycling of about 7.10 million tons of steel, 920,000 tons of aluminum, 930,000 tons of plastic, to promote carbon reduction of more than 21 million tons.